HHS releases cost savings for 64 prescription drugs

The Centers for Medicare and Medicaid Services announced Friday that 64 Part B drugs will have a reduced price for Medicare patients at the pharmacy counter in the first quarter of 2025.

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CMS said patients may save between $1 and $10,818 per day on co-insurance costs for the Part B drugs included on the list.

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As part of the Inflation Reduction Act, drug manufacturers must give rebates to the federal government for single source drugs and biological products, including certain biosimilar biological products, whose price increased more than the rate of inflation. The list of discounted drugs changes each quarter.

The 64 drugs (PDF) with reduced co-insurance costs for Medicare patients include Kepivance, which treats mouth sores caused by chemotherapy, Talvey, used to treat patients with multiple myeloma, and Yescarta for recurrent or treatment-resistant blood cancer.

The IRA drug rebate program has been operational since April 1, 2023. Each quarter, CMS releases a new list of discounted drugs. In August, CMS announced discounts on 10 popular drugs like Enbrel, Jardiance and Januvia, starting in 2026. In Q4 2024, Medicare Part B patients could save up to $3,000 on key cancer medications, the federal agency touted.

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In the first quarter of 2025, Medicare patients could save up to four times as much for a drug like Atgam, used to treat a rare blood condition called aplastic anemia: “A beneficiary taking Atgam may save as much as $12,728 from January 1, 2025, through March 31, 2025, depending on their coverage and course of treatment,” HHS wrote in a press release.

Drug companies must pay Part B inflation rebates owed to Medicare no later than September 30, 2025, and Part D inflation rebates no later than December 31, 2025. The rebates will be deposited into the Federal Supplementary Medical Insurance Trust Fund.

“Over 853,000 people with Medicare use these drugs annually to treat conditions such as cancer, osteoporosis, and substance use disorder,” a press release by HHS said. “Since April 1, 2023, people with Medicare have seen savings on over 120 drugs thanks to Inflation Reduction Act’s Medicare Prescription Drug Inflation Rebate Program.”

Starting Jan. 1, 2025, Medicare Part D enrollees will have a $2,000 cap on annual out-of-pocket prescription drug costs through the Inflation Reduction Act.